Published: Sep, 2019
As per the latest report by Transparency Market Research on global fermented non-dairy non-alcoholic beverages market, growth in the next few years will rely on the products’ health benefits.The report also states that the market growth rides on the rising veganism among youth of many countries like India. Moreover, launching new beverages with exciting flavors also influences growth of the global fermented non-dairy non-alcoholic beverages market.
Additionally, health benefits such as improved metabolism by removing the bacteria and curing stomach related ailments are also attracting users to incorporate fermented non-dairy non-alcoholic beverages in their diet. This as a result is further augmenting the growth of global fermented non-dairy non-alcoholic beverages market.
US$ 2,483.8 Mn of Revenue is Projected
According to the report, the market is expected to witness a consistent growth of 5.2% CAGR. The growth of the market is the result of the growing preference of non-alcoholic beverages in various parts of the world. Moreover, benefits such as low calories and better taste and rising awareness health benefits of the beverages is aiding the growth of global fermented non-dairy non-alcoholic beverages market.
Owing to various opportunities, such as rising demand by youth and high profit margin because of cost-effective production, the global fermented non-dairy non-alcoholic beverages market is expected to generate US$2,483.8 mn by the end of 2022. The market stood at US$1,655.1 mn at the end of 2016.Fermented Soft Drink Segment Dominates the Market
The market is categorized on the basis of product type and sales channels. Out of these, the fermented soft drink segment under product type category is expected to dominate the global fermented non-dairy non-alcoholic beverages market. The segment’s domination is the result of rising consumption of these beverages in private and official events. Moreover, the segment is also growing based on the preference of non-alcoholic beverages over any alcoholic beverage.
Wide Retail Sales Channel to aid Growth
Based on the rising consumption, the players of global fermented non-dairy non-alcoholic beverages market have set up vast distribution centers that accelerates the sale of their products. This is major factor that is supporting global fermented non-dairy non-alcoholic beverages market’s growth. Moreover, the vast retail channels such as supermarket, hypermarket, and online portals also augment the growing sale of fermented non-dairy non-alcoholic beverages which is further influencing the growth of market.
Furthermore, growing number of people accepting veganism in their lifestyle is also a major component that promoting the global fermented non-dairy non-alcoholic beverages market in the forecast period of 2017 to 2022.
North America to be the Dominant
Owing to new product launches and technological innovations like upgrading the production facility with automation and smart sensors, North America is expected to stand on the top of regional market of fermented non-dairy non-alcoholic beverages. The region also shows this dominance as a result of hiked up production of grains such as wheat, millets, rye, and rice. These grains are the prime components used in producing fermented non-dairy non-alcoholic beverages hence North America shows exceptional growth potential for the player of global fermented non-dairy non-alcoholic beverages market during the forecast period of 2017 to 2022.
The article is listed by Transparency Market Research titled “Fermented Non-Dairy Non-Alcoholic Beverages Market (Product Type – Dairy Free Drinkable Yogurts, Fermented Soft Drinks, Fermented Juices, and Non-Dairy Kefir; Sales Channel – Modern Trade, Specialty Stores, Convenience Stores, and Online Retailers) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.”
The global fermented non-dairy non-alcoholic beverages market is segmented on the basis of:
- Product Type
- Dairy Free Drinkable Yogurts
- Fermented Soft Drinks
- Fermented Juices
- Non-Dairy Kefir
- Sales Channel
- Modern Trade
- Specialty Stores
- Convenience Stores
- Online Retailers
- Other Retailing Formats
- North America
- Rest of Europe
- Asia Pacific
- Australia and New Zealand
- Rest of Asia Pacific’
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC countries
- South Africa
- Rest of Middle East & Africa
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